JSE Main Market near 5 year low

Trading activity on the Jamaica Stock Exchange Main Market ended on Monday, with the market closing at the lowest point since September 2018, even as the volume of stocks traded rose by 83 percent with a marginally higher value than on Friday, with investors dealing in 55 securities similar to that on Friday, with prices of 13 rising, 28 declining and 14 ending unchanged.
A total of 12,642,427 shares were exchanged for $81,389,720 versus 6,908,564 units at $81,081,310 on Friday.
Trading averaged 229,862 shares at $1,479,813 compared with 125,610 shares at $1,474,206 on Friday and month to date, an average of 231,797 units at $3,030,966, versus 231,941 units at $3,146,566 on the previous day. Trading in February ended with an average of 183,599 units at $2,160,070.
Wigton Windfarm led trading with 3.62 million shares for 28.6 percent of total volume, followed by Sagicor Select Financial Fund with 2.68 million units for 21.2 percent of the day’s trade, Jamaica Stock Exchange, 1.16 million units for 9.2 percent of the market, Sagicor Select Manufacturing & Distribution Fund with 1.16 million units for 9.1 percent of stocks traded and JMMB Group 7.35% – due 2028 with 1.06 million units for 8.4 percent market share.
The All Jamaican Composite Index dropped 3,422.66 points to 364,710.11, the JSE Main Index declined 2,021.79 points to 323,439.81 and the JSE Financial Index shed 0.66 points to end at 75.65.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.4 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows 11 stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Barita Investments lost $1 to close at $79 after 109,758 shares were traded, Eppley fell $4 to $32, with 1,000 stocks changing hands, Eppley Caribbean Property Fund rallied $4.59 in ending at $44.99, with 4,558 stock units crossing the market. GraceKennedy shed $2 in closing at $78 in switching ownership of 119,969 units, Guardian Holdings popped $10 to end at $490 with the swapping of 1,823 shares, Jamaica Stock Exchange declined $1 to close at $13 after 1,160,007 units crossed the exchange. JMMB Group dipped 48 cents to $29.52 with investors transferring 42,247 stocks, Kingston Wharves rallied $3.68 to $34.48 after 15,306 stock units passed through the market, Margaritaville climbed $1.24 in closing at $17.64 as investors exchanged 300 shares. Mayberry Investments dropped $1 to $7.80 after an exchange of 430,294 stocks, NCB Financial dipped $2.31 to a 52 weeks’ low of $69.69 in an exchange of 49,530 units, PanJam Investment rose $2.50 to close at $56.50 in trading 57,273 stock units. Proven Investments advanced 51 cents to $26.51, with 2,510 stock units clearing the market, Scotia Group declined $1 to $34 in an exchange of 62,062 stocks, Seprod shed $1.39 in ending at $62.01, with 11,256 shares crossing the market. Sterling Investments lost 41 cents to end at $2.55 with a transfer of 65,854 units, Supreme Ventures dipped 88 cents in closing at $25 while exchanging 156,110 stocks and Wisynco Group fell 40 cents to close at $17 with an exchange of 28,984 stock units.
In the preference segment, Jamaica Public Service 7% lost $21.51, ending at $200 after a transfer of just three units and 138 Student Living s preference share dropped $7.43 to $70, trading three shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.